This is CNBC's live blog covering European markets.

LONDON — European markets closed higher on Thursday as investors digested a fresh round of corporate earnings and a key U.S. inflation print.

The pan-European Stoxx 600 index provisionally ended the session up 0.8%, with household goods adding 2.1% to lead gains on the back of strong earnings. Mining stocks, meanwhile, slid 0.9%.

July's U.S. consumer price index rose 3.2% from a year ago and 0.2% month-on-month, new data from the Bureau of Labor Statistics showed Thursday, slightly below expectations.

Economists polled by Dow Jones had projected July CPI growth of 0.2% from the prior month and 3.3% on a year-over-year basis.

Core CPI, which excludes volatile food and energy prices, also rose 0.2% month-on-month for a 4.7% year-on-year increase, also slightly below a consensus estimate.

U.S. stocks were higher after the report, looking set to bounce back from another negative session on Wall Street Wednesday.

Back in Europe, corporate earnings continue to roll in and influence individual share price action. Siemens, Zurich Insurance, Thyssenkrupp, Deutsche Telekom, HelloFresh and Deliveroo were among the big names reporting before the bell on Thursday.

U.S. markets open higher

U.S. stocks opened higher Thursday as investors digested a fresh round of corporate earnings and a key inflation print.

The Dow and S&P 500 were up 0.7% shortly after 9:30 a.m. ET. while the Nasdaq Composite climbed 0.9%.

— Karen Gilchrist

Biggest movers: Fastighets AB Balder up 6%, Wienerberger down 11%

Swedish commercial property company Fastighets AB Balder gained 6% by mid-afternoon trade to lead the Stoxx 600.

At the bottom of the index, Wienerberger shares plunged 11% after the Austrian building materials firm missed first-half earnings expectations and cut its end-market outlook in Europe.

- Elliot Smith

U.S. inflation comes in at 3.2% in July, cooler than expected

July's U.S. consumer price index rose 3.2% from a year ago and 0.2% month-on-month, new data from the Bureau of Labor Statistics showed Thursday, slightly below expectations.

Economists polled by Dow Jones had projected July CPI growth of 0.2% from the prior month and 3.3% on a year-over-year basis.

Core CPI, which excludes volatile food and energy prices, also rose 0.2% month-on-month for a 4.7% year-on-year increase, also slightly below a consensus estimate.

- Elliot Smith

Jim O'Neill says rates will need to stay around 5% in major economies, even as inflation fades

Jim O'Neill, senior adviser at Chatham House and former chair of Goldman Sachs Asset Management, says central banks will need to keep interest rates higher for longer to achieve sustainable stable inflation.

Varied earnings season shows investors need to focus on company specifics, strategist says

Fabiana Fedeli, CIO equities, multi-asset and sustainability at M&G Investments, discusses the latest round of earnings and what investors can glean from the quarter's corporate results.

Early movers: Knorr-Bremse up 6%, ISS down 6%

Corporate earnings were the main driver of individual share price movement in Europe on Thursday.

Knorr-Bremse shares jumped 6% after the German manufacturer of braking systems for rail and commercial vehicles posted strong sales and profit growth for the first half of the year along with a record order book.

Watches of Switzerland shares rose 5% after the luxury watch retailer matched revenue expectations and reported strong sales growth in the U.S.

At the bottom of the Stoxx 600, Danish facility management company ISS fell more than 6% after its earnings report Wednesday night.

- Elliot Smith

European stocks open higher

European stocks opened slightly higher on Thursday.

The pan-European Stoxx 600 index rose by 0.4% in early trade, with insurance adding 1.3% to lead gains while mining stocks fell 0.7%.

- Elliot Smith

Siemens misses third-quarter earnings expectations as demand moderates

Siemens on Thursday missed third-quarter profit forecasts citing a "normalisation in demand," particularly in China.

The German conglomerate posted a 4% fall in industrial profit to 2.75 billion euros ($3.02 billion) for the three months to the end of June, below a company-compiled consensus forecast of 2.9 billion euros.

Siemens also reduced its growth projection for its digital industries business to a range of 13% to 15% from a previous target of 17% to 20%.

Orders grew on a nominal basis by 10% year-on-year to 24.2 billion, driven by "sharply higher volume from large orders in Mobility," while revenue rose 6% annually to 18.9 billion euros.

- Elliot Smith

Wegovy-maker Novo Nordisk sales soar 30% on strong demand for its weight-loss drug

Novo Nordisk, which makes the weight-loss drug Wegovy, raised its outlook for 2023 Thursday, as it reported soaring sales.

The Danish pharmaceutical company reported a 30% increase in sales (at constant exchange rates) for the first half of this year, while operating profit also rose 32%.

Its diabetes and obesity division performed particularly well, bolstered by interest in its blockbuster injections Wegovy and Ozempic.

Read the full story here.

- Hannah Ward-Glenton

Here are the opening calls

Britain's FTSE 100 is expected to open around 10 points lower at 7,577, Germany's DAX is seen around 74 points higher at 15,927 and France's CAC 40 is set to add around 42 points to 7,364, according to IG data.

Japan wholesale inflation rate slows for seventh straight month to 3.6%

Japan's wholesale inflation rate slowed for a seventh straight month to 3.6%, down from June's revised figure of 4.3%.

Wholesale inflation is measured by the corporate goods price index, which tracks the price companies charge each other for goods and services.

Prices of ceramic, stone and clay products saw the largest increase in July with a 15.2% year on year increase, while prices of lumber and wood products fell the most, recording a 23.1% drop year-on-year.

— Lim Hui Jie

CNBC Pro: Stocks, Treasurys or annuities? The pros weigh in on the best source of retirement income right now

Treasury yields and stocks have more upside ahead — and annuities are yielding more than ever, according to some Wall Street investors.

If you're an investor, especially one nearing or in retirement, which would be the best source of income?

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: Bank of America reveals year-end price target for India's NIFTY — and Morgan Stanley names its 'top pick' stock set to rise by 40%

Bank of America has revealed its year-end price target for India's Nifty index.

The Wall Street bank said a change in outlook from its U.S. economics team was a key driver behind their India stock market prediction.

In addition, Morgan Stanley also revealed its "top pick" in the Indian banking sector, giving the stock 40% upside.

CNBC Pro subscribers can read more here.

— Ganesh Rao